Cardano: Social interest High
The altcoin has been in the social media spotlight amid ongoing market volatility. The 8th most valuable crypto asset by market value was trading at 71 cents, slightly up for the day, with a market valuation of $25.2 billion.
Cardano’s crowd sentiment seems to have shifted as it reached a significant milestone that might spark a much-needed recovery. According to Santiment’s most recent data, Cardano sentiments surged to their highest level in more than four months.
Social media users post more than three out of five positive comments for every negative one. This ratio hasn’t been observed since late October to early November 2024.
However, Whales offloaded over 100 million ADA tokens last week which further heightened selling pressure and raised concerns about the asset’s short-term performance.
President Donald Trump declared that ADA would be one of the crypto assets included in the U.S. strategic crypto reserve
Later, an executive order stated altcoins would be supervised by the Treasury and added to the Digital Asset Stockpile (DAS).
Although this was a positive step, market players quickly criticized Cardano’s inclusion, pointing out that its low activity levels have hurt its price. Second, Frederik Gregaard, CEO of the Cardano Foundation, affirmed that the project is working with NASA on blockchain-based data solutions.
The collaboration focuses on satellite data applications, track-and-trace systems, and data provenance. NASA utilizes Cardano’s advanced Merkle Patricia Tries (MPTs) to ensure efficient and verifiable data storage. Cardano can handle enormous volumes of data thanks to MPTs, which update datasets continuously unlike many other blockchain networks,
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